The Montenegro Stock Exchange saw an increase in its index and lower trading volumes this week, during which the Parliament approved the 2023 budget law and a decision on borrowing.
The index of the top ten companies, MNSE10, strengthened by 1.9% to 1,145.21 points, while the MONEX index grew by 0.8% to 17,374.81 points.
Trading volume amounted to €62.57 thousand, down 25.7% from the previous week.
The budget’s original revenues are projected to total €2.89 billion, a 3.7% increase compared to last year’s estimate, with an additional €102 million. The total planned expenditures are €4.03 billion, which is €505.5 million more than last year.
Of the total budget, €1.5 billion is allocated for the current budget, €1.3 billion for state funds, €280 million for capital investments, €886 million for financial transactions, and €43.5 million for reserves.
Members of Parliament also adopted amendments to the Law on Pension and Disability Insurance. The amendments introduce payments to bridge the gap to the minimum pension for users with proportional pensions whose total pensions are less than the minimum pension of €450.
Luka Bar shares increased by 27.8% to €0.40, while Port of Adria shares rose by 19.5% to €0.352.
Shares of Jugopetrol grew by 4.9% to €15, while Budvanska rivijera hotels saw a slight increase to €7.02.
Shares of Trend declined by 11.1% to €0.04, and Plantaže shares fell by 9.1% to €0.19.
Shares of Sveti Stefan hotels dropped by 9.1% to €5, while Ulcinjska rivijera hotel and tourism company saw a decrease of 8.2% to €5.51. Crnogorski elektroprenosni sistem (CGES) shares fell by 1.4% to €1.37.
Shares of the Simo Milošević Institute and Elektroprivreda Crne Gore (EPCG) remained unchanged at €58 and €5.5, respectively.
EPCG announced that it continues to invest in modernizing and improving infrastructure, reaffirming its commitment to sustainable development and energy transition.
EPCG’s CEO, Ivan Bulatović, met with the management of EPCG-Željezara Nikšić and EPCG-Solar-Gradnja at the EPCG-Željezara Nikšić headquarters. They discussed key infrastructure projects completed recently and analyzed results, outlining next steps in revitalizing the former industrial giant. Completed work included restoring the old administrative building, modernizing transformer stations, and building a 1.7 MW solar power plant, reflecting EPCG’s strategic focus on green energy and energy efficiency.
The week was marked by information that, due to a boycott of stores on Friday, the five largest retail chains recorded a 56.14% drop in turnover compared to January 24, according to the Tax Administration. Citizens, on the call of Alternativa Crna Gora, boycotted stores due to high food prices.
Total turnover on the Montenegro Stock Exchange in January amounted to €557 thousand, a decrease of 20.45% compared to December.
Compared to January last year, turnover rose by 150.09%. The average daily turnover for the month was €32.76 thousand, with 118 transactions conducted over 17 trading days, according to the Montenegro Stock Exchange bulletin.
